Lord Abbett & CO. LLC Sells 8,218 Shares of Curtiss-Wright Corporation $CW

Key Points

• Lord Abbett & CO. LLC reduced its holdings in Curtiss-Wright Corporation by 8.3%, selling 8,218 shares and owning 90,924 shares worth $28.8 million as of the latest SEC report.
• Several hedge funds made significant moves regarding Curtiss-Wright, with Whipplewood Advisors LLC increasing its position by 1,566.7%, while other firms also bought new positions or increased their stakes.
• Curtiss-Wright reported a Q2 EPS of $3.23, exceeding expectations, with revenue rising 11.7% year-over-year to $876.58 million.

Lord Abbett & CO. LLC reduced its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 90,924 shares of the aerospace company's stock after selling 8,218 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.24% of Curtiss-Wright worth $28,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CW. Whipplewood Advisors LLC lifted its holdings in Curtiss-Wright by 1,566.7% in the 1st quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company's stock worth $32,000 after purchasing an additional 94 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in Curtiss-Wright in the 4th quarter worth approximately $35,000. Private Trust Co. NA increased its position in Curtiss-Wright by 13,800.0% in the 1st quarter. Private Trust Co. NA now owns 139 shares of the aerospace company's stock worth $44,000 after buying an additional 138 shares during the period. Ancora Advisors LLC bought a new position in Curtiss-Wright in the 4th quarter worth approximately $49,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Curtiss-Wright by 165.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the aerospace company's stock worth $63,000 after buying an additional 124 shares during the period. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Trading Down 2.9%

Shares of CW traded down $14.5120 during trading hours on Tuesday, hitting $479.1180. 157,247 shares of the stock traded hands, compared to its average volume of 318,973. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $517.09. The firm has a market capitalization of $18.05 billion, a PE ratio of 40.36, a price-to-earnings-growth ratio of 2.99 and a beta of 1.18. The business has a fifty day moving average of $483.31 and a 200-day moving average of $397.12.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.10. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The business had revenue of $876.58 million for the quarter, compared to analyst estimates of $855.10 million. During the same quarter in the prior year, the firm posted $2.67 earnings per share. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Analyst Upgrades and Downgrades

CW has been the topic of a number of research reports. Robert W. Baird boosted their price objective on Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Citigroup boosted their price objective on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Stifel Nicolaus boosted their price objective on Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Wall Street Zen cut Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Truist Financial lowered their price objective on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $468.14.

Insider Activity

In other Curtiss-Wright news, Director Bruce D. Hoechner sold 1,900 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the sale, the director directly owned 4,523 shares in the company, valued at $2,026,304. This represents a 29.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John C. Watts sold 450 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $449.36, for a total value of $202,212.00. Following the transaction, the vice president owned 4,959 shares of the company's stock, valued at approximately $2,228,376.24. The trade was a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.